Ashland Executive Compensation (FY25)

Name: Ashland (ASH) executive compensation
Creator: Velarion
License: https://intel.velarion.ai/terms

ASH · Wilmington, DE · Executive and director compensation, fiscal 2022 to 2025

Chief executive, fiscal 2025

◇

Guillermo Novo

Median of the other named officers

$1,915,000

6 officers, excluding the chief executive

Latest say-on-pay support

January 20, 2026

Chief executive pay ratio

◇

To the median employee

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Data as of November 5, 2026Latest filing (8-K): January 22, 2026

14 filings cited on this page

Method: intel.velarion.ai/methodology

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308 figures on this page: 298 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

What changed from fiscal 2024 to fiscal 2025

The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.

Chief executive total compensation — Guillermo Novo: $8,981,991 → $7,907,423 (12.0% lower)

Say-on-pay support: 97.6% → 96.7% (0.9 points lower)

CEO pay ratio: 117:1 → 83:1 (29.1% lower)

Frequently asked questions

Answers drawn from the data on this page.

Who is Ashland's chief executive and what were they paid?

Guillermo Novo was paid $7,907,423 in total compensation as Chair of the Board and Chief Executive Officer for fiscal 2025. Novo's total moved 12.0% lower from the $8,981,991 reported for fiscal 2024.

What was Ashland's say-on-pay result?

Shareholders supported the say-on-pay proposal with 96.7% of votes cast for or against in favor at the meeting held January 20, 2026 for fiscal 2025.

Which companies are in Ashland's peer group?

The disclosed peer group includes Albemarle Corporation, Avient Corporation, Axalta Coating Systems Ltd, Cabot Corporation and Element Solutions, Inc., among others.

What is Ashland's chief executive pay ratio?

For fiscal 2025, the company reported a chief executive pay ratio of 83:1, against median employee compensation of $95,293.

Executive compensation

Every element reported for each named executive officer, by fiscal year.

Fiscal 2022

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Guillermo Novo Chair of the Board and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
J. Kevin Willis Senior Vice President and Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇†
Osama Musa Senior Vice President and Chief Technology Officer	◇	—	◇	—	◇	—	◇	◇
Min Chong Former SVP, GM Specialty Additives & Personal Care	◇	—	◇	—	◇	—	◇	◇
Ashok Kalyana SVP, GM Life Sciences	◇	—	◇	—	◇	—	◇	◇

Fiscal 2023

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Guillermo Novo Chair of the Board and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
J. Kevin Willis Senior Vice President and Chief Financial Officer	◇	—	◇	—	◇	—	◇	◇
Xiao Wang SVP, GM Personal Care	◇	—	◇	—	—	—	◇	◇
Osama Musa Senior Vice President and Chief Technology Officer	◇	—	◇	—	◇	—	◇	◇
Min Chong Former SVP, GM Specialty Additives & Personal Care	◇	—	◇	—	◇	—	◇	◇
Ashok Kalyana SVP, GM Life Sciences	◇	—	◇	—	◇	—	◇	◇

Fiscal 2024

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Guillermo Novo Chair and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
J. Kevin Willis SVP, Chief Financial Officer	◇	—	◇	—	◇	—	◇	◇
Min Chong Former SVP, GM Specialty Additives & Personal Care Departed during or after this year	◇	—	◇	—	—	—	◇	◇
Alessandra Assis SVP & GM Life Sciences & Intermediates	◇	◇	◇	—	◇	—	◇	◇
Osama Musa SVP, Chief Technology Officer	◇	—	◇	—	◇	—	◇	◇
Karl Bostaph SVP Operations and Manufacturing	◇	—	◇	—	◇	—	◇	◇

Fiscal 2025

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Guillermo Novo Chair of the Board and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
J. Kevin Willis Former Senior Vice President and Chief Financial Officer Departed during or after this year	◇	—	◇	—	◇	—	◇	◇
William Whitaker Senior Vice President and Chief Financial Officer	◇	—	◇	—	◇	—	◇	◇
Alessandra Faccin Assis Senior Vice President and General Manager, Life Sciences and Intermediates	◇	—	◇	—	◇	—	◇	◇
Osama Musa Senior Vice President and Chief Technology Officer	◇	—	◇	—	◇	—	◇	◇
Karl Bostaph Former Senior Vice President Operations Departed during or after this year	◇	—	◇	—	◇	—	◇	◇
James Minicucci Senior Vice President and General Manager, Personal Care	◇	—	◇	—	◇	—	◇	◇

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.

Fiscal 2025

Officer	Award	Grant date	Threshold units	Target units	Units granted	Maximum units	Exercise price	Grant date fair value
Alessandra Faccin Assis	PSU	◇	◇	◇	◇	◇	—	◇
Guillermo Novo	PSU	◇	◇	◇	◇	◇	—	◇
J. Kevin Willis	PSU	◇	◇	◇	◇	◇	—	◇
James Minicucci	PSU	◇	◇	◇	◇	◇	—	◇
Karl Bostaph	PSU	◇	◇	◇	◇	◇	—	◇
Osama M. Musa	PSU	◇	◇	◇	◇	◇	—	◇
William Whitaker	PSU	◇	◇	◇	◇	◇	—	◇
William Whitaker	RSU	◇	—	—	◇	—	—	◇
William Whitaker	PSU	◇	◇	◇	◇	◇	—	◇

Fiscal 2022, 2023, 2024 are included in the PDF.

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.

As disclosed at fiscal 2025 year end

Officer	Award	Unvested units	Market value of unvested units	Exercise price	Expires
Guillermo Novo	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
Osama Musa	RSU	◇	◇	—	—
	PSU	◇	◇	—	—
J. Kevin Willis	PSU	◇	◇	—	—
Alessandra Faccin Assis	RSU	◇	◇	—	—
	PSU	◇	◇	—	—
William Whitaker	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
James Minicucci	RSU	◇	◇	—	—
	PSU	◇	◇	—	—
Karl Bostaph	PSU	◇	◇	—	—
	RSU	◇	◇	—	—

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.

Alessandra Faccin Assis

SVP & GM Life Sciences & Intermediates · Change-in-control agreement

Severance multiple	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Excise tax treatment	◇
Non-compete period	◇
Non-solicit period	◇

J. Kevin Willis

Former Senior Vice President and Chief Financial Officer · Change-in-control agreement

Severance multiple	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Excise tax treatment	◇
Non-compete period	◇
Non-solicit period	◇

James Minicucci

Senior Vice President and General Manager, Personal Care · Change-in-control agreement

Severance multiple	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Excise tax treatment	◇
Non-compete period	◇
Non-solicit period	◇

Karl Bostaph

Former Senior Vice President Operations · Change-in-control agreement

Severance multiple	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Non-compete period	◇
Non-solicit period	◇

Osama Musa

Senior Vice President and Chief Technology Officer · Change-in-control agreement

Severance multiple	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Non-compete period	◇
Non-solicit period	◇

William Whitaker

Senior Vice President and Chief Financial Officer · Change-in-control agreement

Change-in-control multiple	◇
Benefits continuation on change in control	◇
Excise tax treatment	◇
Non-compete period	◇
Non-solicit period	◇
Clawback	◇

Director compensation

What each non-employee director was paid.

Fiscal 2025

Director	Fees earned in cash	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Susan L. Main Lead independent director	◇	◇	—	—	—	—	◇
Suzan F. Harrison	◇	◇	—	—	—	—	◇
Jerome A. Peribere	◇	◇	—	—	—	—	◇
Sanat Chattopadhyay	◇	◇	—	—	—	—	◇
Scott A. Tozier	◇	◇	—	—	—	—	◇
Ashish K. Kulkarni	◇	◇	—	—	—	—	◇
Steven D. Bishop	◇	◇	—	—	—	—	◇

Guillermo Novo served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.

Earlier years are included in the PDF.

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.

Board cash retainer	◇
Board equity retainer	◇
Total board retainer	◇
Lead independent director premium	◇
Audit committee chair	◇
Compensation committee chair	◇
Nominating and governance chair	◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Fiscal 2024

Albemarle Corporation ALB
Avient Corporation AVNT
Axalta Coating Systems Ltd AXTA
Cabot Corporation CBT
Element Solutions, Inc. ESI
Entegris, Inc. ENTG
FMC Corporation FMC
H.B. Fuller Company FUL
Ingevity Corporation NGVT
Innospec Inc. IOSP
Minerals Technologies MTX
New Market Corporation symbol not shown
RPM International Inc. RPM
Sensient Technologies Corporation SXT
Stepan Corporation SCL
The Chemours Company CC

Say-on-pay history

Shareholder support for the compensation program, by year.

Year	Meeting	Support	Votes for	Votes against	Abstentions
2025	January 20, 2026	=	◇	◇	◇
2024	January 21, 2025	=	◇	◇	◇
2023	January 23, 2024	=	◇	◇	◇
2022	January 24, 2023	=	◇	◇	◇
2021	January 25, 2022	=	◇	◇	◇
2020	January 28, 2021	=	◇	◇	◇
2019	January 30, 2020	=	◇	◇	◇
2018	February 8, 2019	=	◇	◇	◇
2017	January 25, 2018	=	◇	◇	◇
2016	January 26, 2017	=	◇	◇	◇

Chief executive pay ratio

As calculated and reported by the company.

Ratio

◇

Median employee compensation

◇

Chief executive total compensation

◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”

- Guillermo Novo (Chair of the Board and Chief Executive Officer), FY2025 total compensation $7,907,423 (base salary $1,152,332) [exec_comp, SEC accession 0001193125-25-312753, filed 2025-12-09]

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What this page does not include

Everything above is a fact Ashland disclosed, and it is free. Everything below is our analysis of those facts, and it is not.

Peer benchmarking

Where Ashland sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.

Executive Compensation Report — $500

Written compensation analysis

A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.

Executive Compensation Report — $500

Board and governance analysis

Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.

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Realizable pay

What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.

Velarion Intelligence

Adviser switching and vote outcomes

Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.

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Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.

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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.

308 figures on this page: 298 cited to the filing that reported them, 10 calculated from figures it prints.

298 cited to the filing

10 calculated from the filing

Documents cited

8-K, filed January 22, 2026
0001193125-26-019509
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed December 9, 2025
0001193125-25-312753
CEO Pay Ratio
8-K, filed January 22, 2025
0000950170-25-007842
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed December 9, 2024
0000950170-24-134511
8-K, filed January 26, 2024
0000950170-24-007993
DEF 14A, filed December 11, 2023
0000950170-23-069398
Summary Compensation Table
8-K, filed January 27, 2023
0000950170-23-001307
8-K, filed January 27, 2022
0000950170-22-000508
Filing, filed November 22, 2021
8-K, filed February 3, 2021
0001564590-21-004018
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed January 31, 2020
0001564590-20-002943
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed February 13, 2019
0001564590-19-002805
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed January 26, 2018
0001674862-18-000003
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed January 30, 2017
0001674862-17-000008
Item 5.07 Submission of Matters to a Vote of Security Holders

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Velarion, “Ashland executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/ASH (accessed 2026).

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14 filings cited on this page

Method: intel.velarion.ai/methodology

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Peers Ashland discloses

The companies named in ASH's own disclosed peer group.

Albemarle Corporation Avient Corporation Axalta Coating Systems Ltd Cabot Corporation Element Solutions, Inc.Entegris, Inc.FMC Corporation H.B. Fuller Company Ingevity Corporation Innospec Inc.Minerals Technologies RPM International Inc.Sensient Technologies Corporation Stepan Corporation The Chemours Company

Terms on this page

Say-on-Pay Vote CEO Pay Ratio Median Employee Compensation All companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data

APA

Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854

BibTeX

@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}